Under Reconstruction: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Under Reconstruction
Largest movements
- Cash +€85,506
up €85,506 (+80.8%), from €105,866 to €191,372
mainly Net result for the year (+€120,190) and Tax, wage and social debts (+€21,212)
- Receivables within one year +€63,552
up €63,552 (+102%), from €62,141 to €125,693
of which Trade receivables: +€104,697
- Reserves +€65,654
up €65,654 (+53.0%), from €123,861 to €189,515
- Profit (loss) carried forward +€54,536
no longer reported in 2025 (was -€54,536)
- Tax, wage and social debts +€21,212
up €21,212 (+18,181%), from €117 to €21,329
- Trade debts +€7,464
up €7,464 (+747%), from €999 to €8,463
- Other debts -€6,625
down €6,625 (-7.6%), from €86,716 to €80,091
- Gross operating margin +€138,267
up €138,267 (+907%), from €15,242 to €153,509
- Staff costs -€67,984
no longer reported in 2025 (was €67,984)
- Taxes +€31,407
up €31,407 (+26,920%), from €117 to €31,524
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,557 | €317,998 | +€148,441 | +87.5% |
| Fixed assets | 21/28 | €179 | €432 | +€253 | +141% |
| Financial fixed assets | 28 | €179 | €432 | +€253 | +141% |
| Current assets | 29/58 | €169,378 | €317,566 | +€148,188 | +87.5% |
| Amounts receivable within one year | 40/41 | €62,141 | €125,693 | +€63,552 | +102% |
| Trade receivables | 40 | €20,996 | €125,693 | +€104,697 | +499% |
| Other amounts receivable | 41 | €41,146 | - | -€41,146 | |
| Cash at bank and in hand | 54/58 | €105,866 | €191,372 | +€85,506 | +80.8% |
| Deferred charges and accrued income | 490/1 | €1,371 | €501 | -€870 | -63.5% |
| Total equity and liabilities | 10/49 | €169,557 | €317,998 | +€148,441 | +87.5% |
| Equity | 10/15 | €81,725 | €208,115 | +€126,390 | +155% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €123,861 | €189,515 | +€65,654 | +53.0% |
| Distributable reserves | 133 | €123,861 | €189,515 | +€65,654 | +53.0% |
| Profit (loss) carried forward | 14 | -€54,536 | - | +€54,536 | |
| Amounts payable | 17/49 | €87,832 | €109,883 | +€22,051 | +25.1% |
| Amounts payable within one year | 42/48 | €87,832 | €109,883 | +€22,051 | +25.1% |
| Trade debts | 44 | €999 | €8,463 | +€7,464 | +747% |
| Suppliers | 440/4 | €999 | €8,463 | +€7,464 | +747% |
| Taxes, remuneration and social security | 45 | €117 | €21,329 | +€21,212 | +18,181% |
| Taxes | 450/3 | €117 | €21,329 | +€21,212 | +18,181% |
| Other amounts payable | 47/48 | €86,716 | €80,091 | -€6,625 | -7.6% |
| Remuneration, social security and pensions | 62 | €67,984 | - | -€67,984 | |
| Other operating charges | 640/8 | €875 | €876 | +€1 | +0.1% |
| Gross operating margin | 9900 | €15,242 | €153,509 | +€138,267 | +907% |
| Operating profit (loss) | 9901 | -€53,617 | €152,633 | +€206,250 | |
| Financial income | 75/76B | €398 | €88 | -€310 | -77.9% |
| Recurring financial income | 75 | €398 | €88 | -€310 | -77.9% |
| Financial charges | 65/66B | €1,201 | €1,007 | -€194 | -16.1% |
| Recurring financial charges | 65 | €1,201 | €1,007 | -€194 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | -€54,419 | €151,714 | +€206,133 | |
| Income taxes | 67/77 | €117 | €31,524 | +€31,407 | +26,920% |
| Profit (loss) for the period | 9904 | -€54,536 | €120,190 | +€174,726 | |
| Profit (loss) for the period to be appropriated | 9905 | -€54,536 | €120,190 | +€174,726 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.